Highlights

What's in the bulletin?

The UK current account deficit narrowed in 2017 to 3.9% of nominal gross domestic product (GDP) from a record 5.2% in 2016, the narrowest deficit since 2012.

The narrowing in the current account deficit in 2017 was mostly caused by a narrowing in the primary income deficit from 2.5% to 1.6% of GDP which was driven by an improvement in net foreign direct investment (FDI) income.

The trade deficit narrowed from 1.6% to 1.3% of GDP due to a widening in the services surplus which was driven by a widening in the financial services surplus and a narrowing in the travel services deficit.